Birmingham business services group Welconstruct has been bought out by its management in a multi-million pound deal.
The buyout of the company's founders, the Welch family, was for an undisclosed sum and led by chief executive Adrian Reeve. He was responsible for a major reorganisation of Welconstruct just six months after he joined in July 2003.
It now operates four divisions - distribution, office refurbishment, furniture manufacturing and supply chain solutions - employs 200 and has an annual turnover of £40 million.
Mr Reeve said: "Since joining Welconstruct Group I've had tremendous support from the management team, our advisors and, equally importantly, from the shareholders for the depth of changes we've made.
"It was a natural step for me to buy the company which has such great potential. It just needed greater focus and an injection of fresh energy."
The deal was advised by lawyers Hawkins Hatton and overseen by business advisors Mazars. The Royal Bank of Scotland assisting with funding. The group is now looking to expand organically and through acquisition.